Question No 1: Presented below are selected accounts of Yasunari Kawabata Company on Dec 31, 2019:

Cost of goods sold $21,00,000 Inventory [Finished goods] $52,000

Notes Receivable $40,000 Unearned service revenue $90,000

Accounts Receivable $161,000 Equipment $253,000

Inventory [Raw material] $207,000 Inventory [work in process] $34,000

Supplies Expense $60,000 Cash $37,000

Allowance for doubtful accounts $12,000 Equity investment [short term] $31,000

Licences $18,000 Customer advances $36,000

Additional paid in capital $88,000 Restricted cash for plant expansion $50,000

The following additional information is available:

1. Inventories are valued at the lower-of-cost-or market using FIFO.

2. Equipment is recorded at cost. Accumulated depreciation, computed on a straight-line basis, is $50,600.

3. The short-term investments have a fair value of $29,000. (Assume they are trading securities.)

4. The notes receivable are due April 30, 2021, with interest receivable every April 30. The notes bear interest at 6%.

5. The allowance for doubtful accounts applies to the accounts receivable. Accounts receivable of $50,000 are pledged as collateral on a bank loan.

6. Licenses are recorded net of accumulated amortization of $14,000

Requirements: (Marks 12)

Prepare the total assets section of Yasunari Kawabata Companys December 31, 2019, statement of financial position, with appropriate disclosures.